The Wall Street Journal: Ordinary People Who Donated Cryptocurrency to Trump

Original Title: Meet the Everyday Investors Who Pledged Crypto to Trump

Author: Caitlin Ostroff

Compiled by: Luffy, Foresight News

Source: The Wall Street Journal

Many cryptocurrency enthusiasts follow a common rule: HODL. This is a cryptocurrency slang term that means to continue buying and holding even when the market is chaotic.

However, when current President Donald Trump became the first major party presidential candidate to accept cryptocurrency donations in May, dozens of everyday investors quickly responded to the call.

Trump recently began accepting cryptocurrency donations, which is a stark contrast to his attitude when he was president years ago, when he mocked cryptocurrency as "a scam." His campaign team revealed last week that by the end of June, they had raised millions of dollars in cryptocurrency, most of which came from cryptocurrency industry giants and professional investors, but there were also many ordinary individual investors. Some individual investors expressed their desire to help Trump gain increasing support. Here are their stories:

Ricky DiMartino, Dallas

Ricky DiMartino, 40, is a media officer for a Christian nonprofit organization. In mid-June, he donated $500 worth of Bitcoin to Trump. He first bought Bitcoin four years ago after believing a college friend's post on Facebook that the value of Bitcoin would rise.

In mid-June, Ricky DiMartino donated $500 worth of Bitcoin to Trump

DiMartino purchased a small amount of Bitcoin on Cash App. He likes Bitcoin because it is not controlled by the government, and transactions do not require third-party approval.

This Dallas resident voted for Trump in 2016 and 2020. When he saw the campaign accepting cryptocurrency donations, he made his first donation to the former president.

"I really wanted to send a message to Trump that Bitcoin is a good thing for the people, for America, and for himself," DiMartino said. "Because he has criticized Bitcoin in the past, I hope he can see the benefits of Bitcoin."

Rob Licker, Long Island, New York

Long Island Rail Road ticket machine agent Rob Licker chose to donate $100 worth of cryptocurrency XRP to Trump instead of Bitcoin.

The 52-year-old man got into cryptocurrency after watching a Netflix documentary in 2017. He believes Bitcoin is an investment similar to gold, whose value will rise partly due to its scarcity. The total supply of Bitcoin is only 21 million, with over 90% already mined.

Licker stated that he voted for Trump in 2016 but supported Biden in 2020. Rising grocery and energy prices made him reconsider his support for the Democrats, and this time he plans to vote for Trump again.

Licker mentioned that due to inflation, he had to sell some of his Bitcoin. He wants to keep the remaining Bitcoin, so he chose to donate XRP, a token issued to facilitate cross-border payments. Licker said he would not support a candidate solely based on cryptocurrency policy, but he is pleased to see Trump accepting crypto assets and is surprised that the Democrats have not done so.

Since the Democrats have supported the development of the internet since the leadership of former President Bill Clinton in the 1990s, Licker said he believes the Biden administration would also take a similar approach to cryptocurrency.

"I thought Biden would give more support to cryptocurrency, but I was wrong," he said.

Gerard Guillemette, Boise, Idaho

Gerard Guillemette is an engineer from Boise, Idaho. Unlike Licker, Guillemette has been spending his Bitcoin as much as possible. While some investors believe the value of Bitcoin will rise, Guillemette sees it as a means of payment.

Gerard Guillemette supports Trump and Bitcoin

The 61-year-old donated Bitcoin to the Atlas Society, a nonprofit focused on Ayn Rand's philosophy, and used Bitcoin to purchase a scarf from a British football club.

He had previously donated to Trump's campaign team and other Republican political action committees. When he saw Trump publicly supporting cryptocurrency, his support for the Republican candidate and his love for Bitcoin came together.

"This is a convergence of common interests," he said. "When you start using something, you are encouraged to continue using it, no matter who provides it. If people stop eating McRib sandwiches, McDonald's will stop selling them; but people haven't done that, so McDonald's continues to sell them."